Sirius XM said it now expects to see net subscriber additions total 750,000 in 2010, up from its previous forecast of 500,000. Sirius XM also raised its 2010 target for pro-forma adjusted income from operations to $575 million, up from its prior view of $550 million. Sirius XM also anticipates full-year pro-forma revenue of about $2.75 billion and free cash flow of more than $100 million.
"Our continuing strong operating performance, the recovering economy, and improving auto sales support our increase in guidance today," Sirius XM CEO Mel Karmazin said in a statement.
Sirius XM shares were up 6 cents, or 5.6%, to $1.13 in Monday's premarket session. The 50-day average daily volume for Sirius XM is 145.73 million, according to the Nasdaq.Elsewhere, Hauppauge Digital (HAUP) dropped by 36 cents, or 9.2%, to $3.57 in the premarket session, retracing some of last week's 281% surge, after the company late Friday posted a second-quarter loss of 9 cents a share on revenue of $13.8 million. Last week, Hauppauge Digital shares rallied after the company said its WinTV-HVR TV tuner boards for PCs can now stream live TV over the Internet to the Apple (AAPL) iPad, iPhone and iPod touch. The 50-day average daily volume for Hauppauge is 676,000. Meanwhile, several stocks were set to move on M&A news. The South Financial Group (TSFG) said that TD Bank Financial Group (TD) will acquire all outstanding shares of common stock of TSFG in a $61 million deal. Under terms of the deal, TSFG's common shareholders will receive, at each shareholder's election, 28 cents in cash or 0.004 shares of TD common stock per TSFG common share. TSFG shares closed Friday at 67 cents. The 50-day average daily volume for TSFG is 7.57 million. EF Johnson Technologies (EFJI) said it will be acquired by an affiliate of private-equity fund Francisco Partners for $1.05 per share. Shares of EJ Johnson closed Friday at $1.03. The 50-day average daily volume for EF Johnson is 72,000.
Stocks Under $5
|Top Dividend Stocks Under $5
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV